Ethereum is correcting gains from a resistance level of $2,820. The current trading price is under $2,720 and the 100-hourly Simple Moving Average, following a break below a bullish trend line at $2,740.
Ethereum's price touched a high of $2,820 before moving down like Bitcoin. Support levels to watch are around $2,645, $2,600, and $2,550, with resistance levels at $2,720 and $2,740.
If Ethereum clears $2,740, it could rise to $3,000. Failure to hold $2,600 support may push the price toward $2,440.
Technical indicators suggest bearish momentum, with the MACD gaining bearish momentum and RSI below 50. Major support lies at $2,645 and resistance at $2,740.
